Unaudited Flnandal Statements for the Period l October 2021 to 30 September 2022 (second set of accounts) for THE CHERYL KING TRUST Registered Charity number 1191604 Contents Trust Informatlon.................................................................................................................................... Trustees Report..................................................................................................................................... Recelptsand Payments........................................................................................................................... Balance Sheet .....................................................................................................................................,... Appendix- Independent Examlnerfs Report THE CHERYL KING TRUST Trust Information TRusfEES: M E Windham (Chalr) C W Grant A J Hennessey-Brown P J Brayne sEcR￿ARy.. C W Grant TREASURER: P J Brayne REGISTERED ADDRESS: 24 Litchfield Way Gulldford Surrey GU2 7QH The Cheryl Kln8 Trust was registered with the Charlty Commlssion on 2 October 2020, followin8 submi551on of a 'Constltution of o Charitable Incorporated Organ150tlon whose only voting members ore Its chorlty trustees (Foundotlon, model constltutionj,, dated 16 September 2020. The obJect of the Charitable Incorporated Or8ani5atlon (CIO) is "For the public beneflt to pmmote t7nd odvonce the musical education of children ondyounq people (the 'beneflciories J in p(7rticulor, but not exclusively, by the pmvision of gront5 and funding to enable the beneficlorie5 to stort or contlnue wlth Indlvidual orgroup musical instrument lesson5." The CIO took over all the attivitie5 and the fundsfrom an unre8iStered trust, The Cheryl Kln8 IHirst} Trust, which was then wound up. Page 2 THE CHERYL KING TRUST Trustees Report The Cheryl King Trusvs aim is that no young person in Surrey should be prevented from learnlng a musical instrument because their parents or guardians cannot afford it, or through a lack of inspiration. This is athieved by providing bursaries for Instrument or singing lessons and grants for performances that inspire young people to take up music lessons. The Charity is named after Cheryl King who played alto Sax and plano and was a wonderful musiclan and a very 8lfted and popular music teacher. She tragically passed away just before Christmas 2014. The Trust was set up in her memory to provide financial assistance for muslcal educatlon for children and young people. Thecurrentfocus of thetrust istoprovydefundingor c(Ffundingto enable chlldren and young people aged 18 and underto start or continue with indlvidual orgroup musical instrument or singing lessons who may not otheThvise be able to do so. The year began as restrictions arising from the COVID pandemic began to ease. However, some lessons where stlll beSng affected. In the perlod from l Ottober 2021 up to 30 September 2022, the trust has undertaken the followin8 charitable actlvltles: At the be8lnnlng of the academlc year, the Trust had commltments to fund 17 young people in association wlth Surrey Arts. But durin8 the year, we a8reed to support an additional 8 students: 2 of which were recelvln8 lessons from the New Musl¢lans Instltute. By the end of the academic year, we had provided funding of £4.741 for bursarles to individuals. In additlon to the above, as last year, we fvnded two young muslclans through the Awards f¢x Youn8 Muslclans IAYMI Yhe Cheryl KSn8 Award". Each year those in need of flnancial support towards the next step In thelr muslcal progression can apply for the award. As well as providing financial assistance, AYM supports Award wlnners by providing advlce, 8uldance. and acce55 to a range of muslc-makln& mentoring and perfonnance opportunlties throughout the Award year. In a similarway, we funded a studentthrou8h the FutureTalent Fledgllng Programme. Future Talent supports glfted youn8 musicians up to a8e 18 from challen8ln8 backgrounds who need guidance to enable them to flourish on their muslcal Journey. The Trust 5UPPOrted a bursary towards the Fled8ling Pro8rammin8 for youn8er musicians. In the prevlou5 financial year. we had c¢Trfunded with Surrey Arts a vlsit from the National Youth Jazz Orchestra to provide Inspiratlonal performances and workshops for local state schools. However, this had to be postponed because of the COVID pandemic and was rescheduled for February 2022. The programme was very well received, and we had much positive feedback from schools. In orderto increase funding and support more young people. we launched our"Glve- a￿1g. initiative. We contacted many local groups who PLrt on gigs and concerts and asked if they could 5UPPOrt us at one of thelr events. We were delighted to receive £4,861 through this initiative. This was on top of donations from indivlduals amountin8 to £2,059. In addition. we received a 8rant of £2,1)X) from the Guildford Sprin8 Music Festival. Page 3 THE CHERYL KING TRUST Future The Trustees formed the Cheryl Kin8 Trust (out of the fonner, unreglstered Cheryl King (Hlrst) Trust) in order to Increase the number of children and young people that could benefit, knowing that the resources provided by the state are in decline. We believe many chlldren in Surrey are unable to experiencethe joy of making music becauseof financial di5advanta8e. We all know the joy that listenlng to and maklng music brings to us. It's particularly important for young people. Music tuition from a young age Improves literary, problem-solving skills, confidence. resilience, and creativity. Music is even more important 8lven the pressures all youn8 people face today. To this end we are continuing to increase our fundraising attivity and e*£ending our partnerships so that more children and youn8 people can experiencethe life changing Impact of music in their lives. As an example, we have agreed to fund an initiative called "Strlctly strln85" which provides 8roup music tuition In primary schools. In particular, we are supportln8 a school whlch ha5 a hlgher-than-average number of dlsadvantaged puplls. FInan￿5 and Reserves Durin8 the year, the Trust had Income of £8.969 and expendlture of £7,422. The Trustees recognise their responsibilty to reta5n sufficient reserves to ensure our beneficlaries do not experience a sudden break in their fundin8. To this end, the Trustees plan to malntain a reserve equivalentto aboutone yearfs fundlng commitments. Our budget for 2022-23 Is to award bursarles of £9,850. As of l October 2022, we have reserves of £7,551. M E Wlndham- Chair Page 4 THE CHERYL KING TRUST Recelpts and Payments for the Period l October 2021 to 30 September 2022 RECEIPTS Funds raised by events - £ 4,861 Donations from individuals £ 2,059 Guildford Spring Music Festival Grant £2,0(Kl Glft Aid reclalm £49 Total Recelpts £8,969 PAYMENTS Indlvidual Bursary Awards £ 4,741 Future Talent Bursary Awards for Young Muslclans Bursary Grant to Strittly Strlngs- £750 - £ i,(x)o Admlnlstratlon Costs £331 Total Payments £ 7,422 Surplus/lDeficitl for the period - £ 1,547 Balance brou8ht forward £ 6,Ix Totals funds 0$ of 30 September 2022 £ 7,551 Page 5 THE CHERYL KING TRUST Balante Sheet 30 September 2022 31 Sep 2022 31 Sep 2021 FIXED ASSErs Tan8ible Assets CURRENT ASSErs Debtors Cash at bank- £ 7.551 £ 6,004 CREDITORS Amounts fallin8 due within one year NET CURRENTASSETS - - £ 7,551 £ 6,004 TOTAL ASSETS LESS CURRENT LIABILITIES £ 7,551 £ 6,004 NET ASSETS £ 7,551 £ 6,004 The financial statements were approved by the Trustees on 7 November 2022 and were signed on its behalf by: M E Windham- Chalr End. Page 6 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteo51 THE CHERYL KING TRUST On accounts for the yoar and 3￿ September 2022 Charlty no Ilf any) 1191804 Sat oirt on pagos 1to8 I report to the tnjstees on my examination of the accounts of the above Charity (Ihe Trusf) for the year ended 3010912021. Rooponslbllltl•¥ and A8 the charlty trustees of the Tru6( you are respjnsible for the preparation ba318 of re￿ of the a￿OUnts in acoJrd8n(* with the requirements of tha Charitias Act 2011 fft Acr). I rep(￿ in rw of my examination of the Tru8Ys accounts carried out under section 145 of the 2011 Act and in (arying out my examinab'on, I have folFowl the applicable Dlre(*ions given by the Ch8rlty Commission under section 145(5)(b) of the ACL I have crrybted my examinats'on. l (￿firn thot no matsrial matters have com8 to my attention (other than that disclosed below.) in connection the examination vthich gr¥es me cause to belleve that in. any material accounllng reoxds were r￿1 kept In actordance with 8ectK)n 130 of the Act or the accounts do rw)t a¢(th tho aCc￿n￿O record8 I have no concems arml have come across no other matters in connectlon wlth tho examinatlon to whlch attention Should be drawn in order to en8￿e proper und8rs ' Please del ' g of the 8(rwnts to be raathed. words in the brnc*ets Ilthey do not apply. Independont oxamlnaV$ 8tat•mont 8lgn•d: 9 Novemter 2022 Namo: Rc¥ian Dixon Relevant prr)fé#slonal quallfieatlon(s) or body {If ary): FCMA Addrem: l Dapples Lane Cranleigh. Surr8y GU6 8FS Section Disclosure Onty i))mplete rf the examiner needs to highlight matters of concom (see CC32, Indep8ndent WAaminalion of c*arity acca)unts: directions and guidance for axamin8r8).